Home Buying in Dayton>Question Details

Ruth Young, Real Estate Pro in Dayton, OH

How long is a HUD back up offer good for?

Asked by Ruth Young, Dayton, OH Wed Feb 16, 2011

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It should be good until the property closes or the offer is withdrawn
Web Reference: http://www.321property.com
0 votes Thank Flag Link Wed Feb 16, 2011
How is an offer "withdrawn" from HUD? I didn't see any form other then their cancelation form which addresses earnest money. But when it's in "back up" status, earnest money hasn't been collected yet. There's nothing on HUDHOMESTORE.com about withdrawing a "back up" offer, that I could find. Thanks for your assistance.
Flag Wed Jan 13, 2016
Ruth,

As Tim stated, your back-up offer is in place until 1) you withdraw it, 2) the accepted offer closes or 3) the accepted offer falls through and is cancelled. If you want more specific information regarding your back-up offer, you should contact the asset manager assigned to the property you bid on. Go to http://www.HUDhomestore.com, type in the FHA case # and when the property details come up, click the agent info tab to access contact information for asset manager and firm. I have a buyer whose bid was accepted a month ago by the asset manager and is still waiting for HUD to sign the contract, so be patient.

Jason Ewing
Coldwell Banker Triad, Realtors
0 votes Thank Flag Link Wed Feb 16, 2011
Good ? Ruth normally that applies,but with this new host of hud much different,as far as finding,status of offers out.Hope ur Realtor can contact the list agent or other #'s to call and get ur answers,so ur not missing out on others,
0 votes Thank Flag Link Wed Feb 16, 2011
Any back up offer is in place in case the primary offer falls apart. Unless the offer has an expiration date on it, it will be good until the property sells or until you withdraw it.

Strange question from an agent.
0 votes Thank Flag Link Wed Feb 16, 2011
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